ServiceNow, Inc. $NOW Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its stake in ServiceNow, Inc. (NYSE:NOW) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,297 shares of the information technology services provider’s stock after selling 20,871 shares during the period. ServiceNow accounts for about 1.2% of Trillium Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Trillium Asset Management LLC’s holdings in ServiceNow were worth $38,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of NOW. Bank of Nova Scotia increased its position in ServiceNow by 53.3% in the first quarter. Bank of Nova Scotia now owns 1,018,036 shares of the information technology services provider’s stock worth $106,436,000 after purchasing an additional 353,749 shares during the period. Sapient Capital LLC raised its holdings in ServiceNow by 266.0% during the 2nd quarter. Sapient Capital LLC now owns 77,661 shares of the information technology services provider’s stock worth $7,710,000 after purchasing an additional 56,444 shares during the last quarter. Meeder Advisory Services Inc. bought a new stake in ServiceNow during the 2nd quarter worth about $2,881,000. Vestor Capital LLC lifted its position in ServiceNow by 38,987.2% during the 1st quarter. Vestor Capital LLC now owns 122,343 shares of the information technology services provider’s stock valued at $12,791,000 after purchasing an additional 122,030 shares during the period. Finally, Cardano Risk Management B.V. lifted its position in ServiceNow by 6.9% during the 2nd quarter. Cardano Risk Management B.V. now owns 484,785 shares of the information technology services provider’s stock valued at $48,129,000 after purchasing an additional 31,119 shares during the period. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the completion of the transaction, the insider directly owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. The trade was a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Chamberlain sold 2,700 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $135.50, for a total value of $365,850.00. Following the completion of the sale, the director owned 43,990 shares of the company’s stock, valued at $5,960,645. This trade represents a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 13,870 shares of company stock valued at $1,880,595. Company insiders own 0.34% of the company’s stock.

ServiceNow Trading Up 1.5%

Shares of NYSE NOW traded up $1.48 during midday trading on Friday, reaching $102.14. 8,448,012 shares of the stock were exchanged, compared to its average volume of 20,155,038. ServiceNow, Inc. has a 12 month low of $81.24 and a 12 month high of $175.00. The company has a market capitalization of $106.02 billion, a price-to-earnings ratio of 73.48, a P/E/G ratio of 1.97 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day simple moving average of $132.09 and a two-hundred day simple moving average of $114.07.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. ServiceNow’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.82 EPS. As a group, equities research analysts expect that ServiceNow, Inc. will post 2.12 EPS for the current year.

Key Headlines Impacting ServiceNow

These are some of the NOW headlines that stood out recently:

• Positive Sentiment: ServiceNow launched its Autonomous CRM Engine, designed to map existing CRM systems and help accelerate migrations, with ongoing monitoring for configuration issues. It is in controlled availability, with broader expansion planned for 2027; Datacom and Xactly are among its adopters. The launch could support adoption of ServiceNow’s AI products. Article: ServiceNow launches Autonomous CRM Engine
• Positive Sentiment: ServiceNow was cited as an AI stock to consider after Wells Fargo improved its outlook on the AI infrastructure trade. Separately, the article reports that Argus still rates the stock a Buy, offering a supportive analyst view despite the steep decline. Article: Argus rates ServiceNow a Buy
• Negative Sentiment: A law firm announced an investigation into potential claims on behalf of ServiceNow investors. The announcement does not establish wrongdoing, but could create a reputational or legal overhang as more information emerges. Article: Pomerantz investigation announcement

Wall Street Analyst Weigh In

NOW has been the topic of several recent research reports. Jefferies Financial Group set a $145.00 target price on shares of ServiceNow in a research note on Thursday, October 29th. Barclays set a $152.00 price target on shares of ServiceNow and gave the stock an “overweight” rating in a research note on Thursday, October 29th. BMO Capital Markets boosted their price target on shares of ServiceNow from $115.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Oppenheimer restated an “outperform” rating and issued a $165.00 price objective on shares of ServiceNow in a report on Thursday, October 29th. Finally, Argus reaffirmed a “buy” rating and issued a $170.00 price objective on shares of ServiceNow in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceNow currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.50.

ServiceNow Company Profile

ServiceNow, Inc. provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations. Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.